Rob Walton to Retire From Walmart Board; Chipotle’s Niccol Nominated

Rob Walton will retire from the Walmart board of directors at the conclusion of his current term on June 5. Walton joined Walmart in 1969 and before that worked alongside his father, Sam, in his 5&10 store. He served more than 40 years on the Walmart Board and helped shape some of the most important moments in Walmart history.

“Walmart is the world’s leading omni-channel retailer,” said Greg Penner, chairman. “That’s a credit to our team today and to those who, over decades, helped to build and shape our company. One of those incredible leaders is Rob Walton, my father-in-law, who recently shared his decision not to seek re-election to our board of Ddrectors.

“His leadership has been critical as we’ve grown our business over so many years. There’s no doubt Sam would be very proud. On behalf of our associates and the board, I’d like to thank him for his unparalleled and amazing service.”

Walton served as Walmart’s chairman of the board of directors from 1992 to 2015.

Walton joined the company in 1969. Prior to becoming chairman, he held a variety of positions with Walmart, including senior vice president, corporate secretary, general counsel and vice chairman. Before joining Walmart, Walton was a partner with the law firm of Conner & Winters in Tulsa, Okla.

He is involved with a number of nonprofit and educational organizations, including Conservation International, where he serves as chairman of the executive committee, and the College of Wooster, where he is an emeritus life trustee.

Brian Niccol, chairman and CEO of Chipotle Mexican Grill, Inc., has been nominated to replace Walton on the board.

Prior to joining Chipotle in 2018, Niccol  served as CEO of Yum! Brands’ Taco Bell Division, where he was responsible for the highly successful turnaround of the business. He served as Taco Bell CEO from January 2015 and president from 2013 to 2014. Under his leadership, he successfully repositioned Taco Bell as a lifestyle brand and successfully launched numerous product initiatives, including the new breakfast daypart, the fastest growing daypart in the industry. He transformed Taco Bell into a social media leader and revolutionized its digital approach through mobile ordering and payment across their 7,000 restaurants. He also created a people-centric innovation culture that has been recognized throughout the industry.

Prior to Taco Bell, Niccol held leadership roles at Pizza Hut, including vice president of strategy, chief marketing officer, and general manager. He led the brand strategy and positioning that achieved record transactions and market share. Additionally, his innovation in digital with on-line and mobile app ordering was industry leading during his time in the business.

Niccol began his career at Procter & Gamble where he spent 10 years in various brand management positions. He holds an undergraduate degree from Miami University (OH) and an MBA from The University of Chicago Booth School of Business. Niccol serves on the board of governors for the Boys & Girls Club of America and on the board of directors of Harley-Davidson, Inc.

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